Intellectual Capital is defined by the IIRC as what type of intangible resource?

Intellectual Capital is recognized by the International Integrated Reporting Council (IIRC) as a critical category of intangible resources that encompasses the knowledge, skills, and experience of an organization's workforce, as well as its systems, processes, and relationships that enhance its ability to create value. This definition aligns closely with the concept of organizational knowledge-based intangibles, which play a fundamental role in driving innovation, improving efficiency, and supporting strategic objectives within the organization.

This emphasis on organizational knowledge and capabilities highlights how a company can leverage its collective intellect and experience to foster competitive advantages, boost operational performance, and offer value to stakeholders. By focusing on this type of intangible resource, the IIRC underscores the significance of knowledge management and intellectual assets in the overall value creation process.